REPUBLIC OF NAURU

REPUBLIC OF NAURU FINANCE CORPORATION (REPEAL) ACT 2009

(Act No. 15 of 2009)

AN ACT

To repeal the Republic of Nauru Finance Corporation Act 1972-1998.

(Certified: 27 November 2009)

ARRANGEMENT OF SECTIONS

1. Short Title and Commencement
2. Interpretation
3. Repeal of the principal Act
4. Savings
5. Audit of Accounts

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An Act

(No. 15 of 2009)

To repeal the Republic of Nauru Finance Corporation Act 1972-1998.

(Certified: 27 November 2009)

Enacted by the Parliament of Nauru as follows:

Short Title and Commencement

1. (1) This Act may be cited as the Republic of Nauru Finance Corporation (Repeal) Act 2009.

(2) This Act shall come into force on the date on which it receives the certificate of the Speaker.

Interpretation

2. (1) The Republic of Nauru Finance Corporation Act 1972-1998 is the principal Act.

(2) ‘Corporation’ means the Republic of Nauru Finance Corporation.

Repeal of the principal Act

3. The principal Act is repealed.

Savings

4. (1) The repeal of the principal Act does not have the effect of excusing any debtor or of cancelling any debt owed to the Corporation, and any debts owed to the Corporation shall upon the commencement of this Act be deemed to be debts owed to the Republic.

(2) Any assets of the Corporation shall vest in the Republic.

Audit of Accounts

5. (1) The Director of Audit shall use his best endeavours to conduct a final audit of the accounts of the Corporation, and shall within one year of this Act coming into force present to the President a report on the audit of accounts, or a report detailing his endeavours to obtain sufficient information to conduct an audit and the details of such information as he was able to obtain.

(2) The President shall within three sitting days of his receipt of the report cause the report to be laid before the Parliament.

I hereby certify that the above is a fair print of a Bill for an Act entitled Republic of Nauru Finance Corporation (Repeal) Act 2009 that has been passed by the Parliament of Nauru and is now presented to the Deputy Speaker for his certificate under Article 47 of the Constitution.	Pursuant to Article 47 of the Constitution, I, Dominic Tabuna, Deputy Speaker of Parliament, hereby certify that the Republic of Nauru Finance Corporation (Repeal) Act 2009 has been passed by the Parliament of Nauru.	
		
Deputy Clerk of Parliament
27 November 2009	Deputy Speaker of Parliament
27 November 2009	

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